Maersk reports solid results in increasingly volatile environment

For the first quarter of 2025 A.P. Moller - Maersk A/S (Maersk) reports revenue growth of 7.8% to USD 13.3bn with EBIT increasing to USD 1.3bn from USD 177m a year ago. These results, while sequentially down as expected, represent a good start to the year and were driven by solid profitability in Ocean, operational improvements in Logistics & Services and higher volumes in Terminals. For the full year 2025, Maersk maintains its financial guidance despite the increased uncertainty leading to a more cautious container volume growth outlook.

“We delivered strong results compared to the same quarter last year, driven by momentum in our operational efficiency and a global economy in good shape for the first three months,” said Vincent Clerc, CEO of Maersk.

“With trade tensions flaring up and uncertainty on the rise, global supply chains are once again in the spotlight. We are happy to be able to put the full strength of our product offering at our customers’ disposal. From the most reliable Ocean network to one of the best lead logistics and customs support teams, we are pulling every lever to help them make the best decisions for their business.

“At the same time, we are doubling down on the work underway on automation and cost management to remain fit for what lies ahead. These efforts give us the confidence to deliver a result in line with our guidance communicated in February.”

Ocean saw improved profitability compared to the same quarter last year due to higher rates and stable volumes with an EBIT of USD 743m while the sequential decrease was as anticipated. Utilisation remained high and costs were stable due to continued high focus on optimisation. The new East-West network, which was launched in February, is on track to deliver on the reliability ambition and cost efficiencies once fully phased in.

Maersk maintains its full-year 2025 guidance of underlying EBITDA of USD 6-9bn, underlying EBIT of USD 0-3bn and free cash flow of at least negative USD 3.0bn. The global container market volume growth has been revised to -1% to 4% given the increased macroeconomic and geopolitical uncertainty. Maersk expects to grow in line with the market. The disruption in the Red Sea is expected to continue throughout the rest of the year.